Surge in Aussie Dollar Exchange

Despite the Eurozone crisis and Asia stock market fall, Australia has managed to hold its grounds in the global economic market. Through efforts of bonds between Australia and European countries, The Australian dollar has surged to a higher value. Experts claim this was made possible thanks to business sentiment data in Germany, as well as bond auctions with the debt-laden Spanish government.

Yesterday at 1700 AEDT Tuesday, the Australian dollar gained an addition of 1.7 US cents, the highest figure since December 14th last week; and today at 1200 AEDT, the Australian dollar surged a further number, amounting to 101.13 US cents, a total increase of 17.2 from Tuesday’s value of 99.41 US cents. The Australian dollar is also doing exceptionally well on the European market, with exchange rates of 77.14 Euro cents, steadily approaching the record value of 77.34 Euro cents in December of 2010.

“The positive data helped send global equities markets higher and the Australian dollar was following suit,” claims Tony Darvall, currency trader at Easy Forex. With the Australian dollar moving so quickly in such a short distance of days, experts at Business Spectator expect the Australian dollar to reach as high as 102.50 US cents in the forthcoming days.

With the European Central Bank opening a new lending facility, it can be expected that the Eurozone debt crisis will ease off a little, with Australians in hope that the Australian dollar will quickly follow suit and raising its value to greater proportions.

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